Today’s tip comes from Paul Schoemaker, research director of the Mack centre for Technological Innovation at the University of Pennsylvania’s Wharton School:
“Most people make asymmetric evaluation of gains and losses so that losses loom much larger than gains.
Look forward and base decisions on the future, not the past. The best kind of mistake is where the costs are low but the learning is high. If you are going to pay the price for making the mistake, you need to get the learning.”
— Paul Schoemaker, research director of the Mack centre for Technological Innovation at the University of Pennsylvania’s Wharton School
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